ParkerVision Corp. (PRKR), the patent licensing company run by CEO Jeffrey Parker, said on Monday Aug. 22 its board awarded Parker and two other senior executives restricted stock units based on industry peer group assessments and the lack of any equity awards for executives since 2012.
Jacksonville, Florida-based ParkerVision said the board awarded Parker 80,000 restricted stock units (RSUs), each of which entitles the holder to a common share. David Sorrells, ParkerVision’s chief technology officer, and CFO Cynthia Poehlman, were each awarded 50,000 RSUs. The company said the equity awards were issued under the ParkerVision 2011 Long-Term Incentive Equity Plan.
The awards come a week after ParkerVision said it reached a settlement with Samsung Electronics Co. The terms of the settlement weren't disclosed.
ParkerVision has said funds received from Samsung under the settlement would be used to reduce ParkerVision's repayment obligation to Brickell Key Investments, which last month provided another $3 million in litigation financing. Brickell previously provided $12 million in litigation funding.
The company also said last week its second quarter net loss widened to $8.4 million, or 72 cents a share, from a net loss of $4.8 million, or cents a share in the second quarter of 2015. The company also said its net loss for the first half widened $13.5 million, or $1.17 a share common share, compared with a net loss of $10.6 million, or $1.09 a share, a year ago.
ParkerVision has been cutting costs and raising equity from supportive investors in order to pursue an enforcement campaign against Qualcomm Inc., Apple Inc. and LG Electronics at the International Trade Commission and in the U.S. District Courts and courts in Munich, Germany.
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